Report: Airbnb to acquire leading Chinese vacation rental firm
Monday, 24 Nov, 2016
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Airbnb is being linked with a takeover of China’s Xiaozhu.com and a deal is likely, according to an unnamed source.
The two firms have held multiple meetings and are at an advanced stage Bloomberg reported.
Home rental platform Xiaozhu is one of China’s major players in the segment and has a customer base of about 10 million users.
It lists 100,000 properties in more than 300 Chinese cities.
Airbnb itself has about 75,000 active listings in China.
Xiaozhu’s main competitor is Tujia which is valued at about $1 billion based on its last round of funding.
Airbnb itself is now valued at a mammoth $30 billion.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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